Investment Grade Corporate Bond Market Summary – Week Ending 7/3/25
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Investment Grade Corporate Bond Market Summary: Week Ending 7/3/25
Our newsletter presents key trends derived from observable Corporate Bond pricing data over a weekly period.
New Issues
IG Corp bond new issues for the week ending 7/3/25, issue size of $50 million and larger
| ISSUE | COLLATERAL TYPE | AMT ISSUED (MM) | PRC AT ISSUANCE | YIELD AT ISSUANCE (%) | SPREAD AT ISSUE |
|---|---|---|---|---|---|
| Sumitomo Mitsui Fin Grp Inc. (USD) 5.796% 7/8/2046 | Fix-To-Floating Rate Notes | 1000 | 100 | 5.8 | 102 |
| Niagara Mohawk Power Corp. (USD) 4.647% 10/3/2030 | Senior Notes | 500 | 100 | 4.65 | 85 |
| AvalonBay Communities Inc. (USD) 5% 8/1/2035 | Senior Notes | 400 | 99.372 | 5.08 | 85 |
Top 10 Performers
Showcases the top 10 IG Corp performers based on the largest bid price increases between 6/27/25 – 7/3/25
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|---|---|
| 1 | GS 3 12/13/2031 | 3.00% | 12/13/31 | 7.57% | 100.82 | 93.73 | 7 |
| 2 | KSS 5.55 7/17/2045 | 5.55% | 07/17/45 | 6.15% | 55.69 | 52.46 | 22 |
| 3 | WLNFP 0.875 6/30/2027 | 0.88% | 06/30/27 | 5.77% | 91.49 | 86.50 | 17 |
| 4 | ROMANI 3.375 1/28/2050 REGS | 3.38% | 01/28/50 | 5.36% | 63.31 | 60.09 | 20 |
| 5 | GARUDA 6.5 12/28/2031 | 6.50% | 12/28/31 | 5.21% | 74.62 | 70.92 | 9 |
| 6 | VOD 5.125 6/19/2059 | 5.13% | 06/19/59 | 3.73% | 88.17 | 85.00 | 21 |
| 7 | PETRPE 5.625 6/19/2047 REGS | 5.63% | 06/19/47 | 3.66% | 64.54 | 62.26 | 19 |
| 8 | SWSFIN 7.375 12/12/2041 | 7.38% | 12/12/41 | 3.62% | 100.28 | 96.78 | 17 |
| 9 | RBOSGR 2.95 7/11/2039 | 2.95% | 07/11/39 | 3.19% | 86.10 | 83.43 | 7 |
| 10 | PARA 4.6 1/15/2045 | 4.60% | 01/15/45 | 3.01% | 75.95 | 73.73 | 18 |
Bottom 10 Performers
Showcases the bottom 10 IG Corp performers based on the largest bid price decreases between 6/27/25 – 7/2/25
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|---|---|
| 1 | LASUDE 5 7/28/2026 | 5.00% | 07/28/26 | -7.46% | 53.13 | 57.41 | 10 |
| 2 | THAMES 1.771 8/28/2057 | 1.77% | 08/28/59 | -4.39% | 57.89 | 60.54 | 14 |
| 3 | OB 10 2/15/2030 144A | 10.00% | 02/15/30 | -3.05% | 77.70 | 80.15 | 17 |
| 4 | UKRAIL 0.678 11/22/2048 | 0.68% | 11/22/48 | -2.38% | 65.83 | 67.44 | 4 |
| 5 | CDTFIN 2.1022 8/14/2048 | 1.55% | 08/14/48 | -2.26% | 148.71 | 152.15 | 5 |
| 6 | KEL 1.75756 2/1/2054 | 1.75% | 02/01/54 | -2.14% | 59.06 | 60.35 | 4 |
| 7 | BAZFIN 0.074 5/16/2049 | 0.00% | 05/16/49 | -2.09% | 56.96 | 58.17 | 4 |
| 8 | HPE 5.6 10/15/2054 | 5.60% | 10/15/54 | -1.93% | 92.98 | 94.81 | 28 |
| 9 | SVTLN 1.56625 2/1/2058 REGS | 1.57% | 02/01/58 | -1.91% | 60.09 | 61.27 | 7 |
| 10 | PEABDY 4.625 12/12/2053 | 4.63% | 12/12/53 | -1.54% | 78.32 | 79.55 | 16 |
Top 10 Industry Performers
Showcases the top 10 IG industry performers based on the largest yield increases between 6/27/25 – 7/3/25
| RANK | INDUSTRY | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | Media: Advertising, Printing & Publishing | -240 bps | 3.30% | 5.70% |
| 2 | Forest Products & Paper | -120 bps | 2.86% | 4.06% |
| 3 | Aerospace & Defense | -107 bps | 4.07% | 5.14% |
| 4 | Environmental Industries | -100 bps | 3.18% | 4.17% |
| 5 | Services: Business | -98 bps | 4.53% | 5.50% |
| 6 | Services: Consumer | -83 bps | 4.77% | 5.60% |
| 7 | Capital Equipment | -73 bps | 3.04% | 3.77% |
| 8 | Consumer Goods: Durable | -66 bps | 3.36% | 4.02% |
| 9 | Finance | -60 bps | 4.87% | 5.47% |
| 10 | Healthcare & Pharmaceuticals | -58 bps | 3.63% | 4.21% |
Bottom 10 Industry Performers
Showcases the bottom 10 IG industry performers based on the largest yield decreases between 6/27/25 – 7/3/25
| RANK | INDUSTRY | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | Real Estate | 101 bps | 7.19% | 6.18% |
| 2 | Wholesale | 49 bps | 5.31% | 4.83% |
| 3 | Energy: Oil & Gas | 22 bps | 5.50% | 5.28% |
| 4 | Energy: Electricity | 17 bps | 3.95% | 3.78% |
| 5 | Chemicals, Plastics & Rubber | 9 bps | 5.07% | 4.98% |
| 6 | Transportation: Cargo | 4 bps | 4.86% | 4.81% |
| 7 | Retail | 4 bps | 4.70% | 4.66% |
| 8 | Automotive | -6 bps | 4.36% | 4.42% |
| 9 | Sovereign & Public Finance | -8 bps | 3.56% | 3.64% |
| 10 | Metals & Mining | -11 bps | 4.51% | 4.63% |
5 Year Yield By Industry
Displays the average IG Corp 5 year yield by industry between 6/27/25 – 7/3/25 Results are based on 5 select industry sectors, however, we offer data across 36 sectors
Sentiment
Reveals the percent of IG Corps increasing in price (advancers) vs. IG Corps decreasing in price (decliners) between 6/27/25 – 7/3/25
Top Quote Volume Movers: This Week vs Last Week
Exhibits the IG Corps with the largest increase in quote volume for the week ending 6/27/25 vs. the week ending 7/3/25
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|---|---|
| 1 | ARAMCO 5.875 7/17/2064 144A | 5.88% | 07/17/64 | 10 | 250 | 240 | 2400% |
| 2 | KSA 3.25 10/22/2030 REGS | 3.25% | 10/22/30 | 30 | 260 | 230 | 767% |
| 3 | BNP 3.5 3/1/2023 144A | 4.38% | 03/01/33 | 4 | 229 | 225 | 5625% |
| 4 | BMW 5.4 3/21/2035 REGS | 5.40% | 03/21/35 | 55 | 269 | 214 | 389% |
| 5 | NATIONAL AUSTRALIA BK LTD | 5.71% | 08/02/34 | 49 | 253 | 204 | 416% |
| 6 | TENCNT 3.575 4/11/2026 REGS | 3.58% | 04/11/26 | 44 | 218 | 174 | 395% |
| 7 | MTRC 1.625 8/19/2030 | 1.63% | 08/19/30 | 20 | 192 | 172 | 860% |
| 8 | ARAMCO 5.25 7/17/2034 REGS | 5.25% | 07/17/34 | 80 | 250 | 170 | 213% |
| 9 | STSP 3.875 8/28/2028 | 3.88% | 08/28/28 | 20 | 190 | 170 | 850% |
| 10 | ALACN 7.2 10/15/2054 REGS | 7.40% | 10/15/54 | 10 | 171 | 161 | 1610% |
Most Quoted IG Corps
Ranks the IG Corps that were quoted by the highest number of dealers between 6/27/25 – 7/3/25
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
|---|---|---|---|---|
| 1 | TOYOTA 5.053 6/30/2035 | 5.05% | 06/30/35 | 36 |
| 2 | STANLN 5.244 5/13/2031 REGS | 5.32% | 05/13/31 | 35 |
| 3 | NAB 4.534 6/13/2030 | 4.53% | 06/13/30 | 35 |
| 4 | BMY 5.55 2/22/2054 | 5.55% | 02/22/54 | 35 |
| 5 | STANLN 5.244 5/13/2031 144A | 5.32% | 05/13/31 | 35 |
| 6 | T 6.05 8/15/2056 | 6.05% | 08/15/56 | 35 |
| 7 | BMY 5.55 2/22/2054 | 5.55% | 02/22/54 | 35 |
| 8 | NI 5.85 4/1/2055 | 5.85% | 04/01/55 | 35 |
| 9 | T 5.4 2/15/2034 | 5.40% | 02/15/34 | 35 |
| 10 | VZ 5.25 4/2/2035 | 5.25% | 04/02/35 | 35 |
Bid-Offer Spread by Industry
Displays the IG Corp average bid-offer spread by industry between 6/27/25 – 7/3/25 Results are based on 5 select industry sectors, however, we offer data across 36 sectors
Bid and Offer Volume
Reveals the total number of quotes by bid and offer between 6/27/25 – 7/3/25
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